Legrand Signs Share Buyback Agreement

Rhea-AI Summary

Legrand announced a share buyback program involving up to 450,000 shares, approximately 0.17% of its capital. The buyback period is set from March 28, 2022 to May 10, 2022, with an average purchase price not exceeding €120 per share. These shares will primarily fund performance share plans or may be canceled. This program is authorized by shareholders as of May 26, 2021. The company aims to enhance shareholder value and maintain a strong presence in the market.

Positive

• Implementation of a share buyback program to enhance shareholder value.
• Acquisition of up to 450,000 shares may positively impact EPS.
• Demonstrates confidence in the company's financial health and future growth.

Negative

• None.

LIMOGES, France--(BUSINESS WIRE)-- Regulatory News:

Legrand (Paris:LR) announced today the signing of a contract with an investment services provider to implement a share buyback program for up to 450,000 shares, i.e. around 0.17% of its capital. The purchase period agreement is expected to begin on March 28, 2022 and ending on or before May 10, 2022 at the latest.

Under the authorization granted by the Ordinary and Extraordinary General Meeting of Shareholders of 26 May 2021, the average price per share for the operation may not exceed the maximum price of 120 euros.

The shares purchased pursuant to this agreement will mainly be allocated to maturing performance share plans or, depending on the case, shall be cancelled.

------------------------

Key financial dates:

• ESG Digital Capital Markets Day: March 29, 2022

• 2022 first-quarter results: May 5, 2022
  “Quiet period¹” starts April 5, 2022

• General Meeting of Shareholders: May 25, 2022

• Ex-dividend date: May 30, 2022
• Dividend payment: June 1,2022

• 2022 first-half results: July 29, 2022
  “Quiet period¹” starts June 29, 2022

About Legrand

Legrand is the global specialist in electrical and digital building infrastructures. Its comprehensive offering of solutions for commercial, industrial and residential markets makes it a benchmark for customers worldwide. The Group harnesses technological and societal trends with lasting impacts on buildings with the purpose of improving life by transforming the spaces where people live, work and meet with electrical, digital infrastructures and connected solutions that are simple, innovative and sustainable. Drawing on an approach that involves all teams and stakeholders, Legrand is pursuing its strategy of profitable and responsible growth driven by acquisitions and innovation, with a steady flow of new offerings—including products with enhanced value in use (faster expanding segments: datacenters, connected offerings and energy efficiency programs). Legrand reported sales of €7.0 billion in 2021. The company is listed on Euronext Paris and is notably a component stock of the CAC 40 and CAC 40 ESG indexes. (code ISIN FR0010307819).
https://www.legrandgroup.com

---------------------------

¹ Period of time when all communication is suspended in the run-up to publication of results.

Readers are invited to verify authenticity of press releases by Legrand with the CertiDox app. More information on www.certidox.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20220325005159/en/

Investor relations

Legrand

Ronan Marc

Tel: +33 (0)1 49 72 53 53

ronan.marc@legrand.fr

Press relations

Publicis Consultants

Mathieu Pontecaille

Mob: +33 (0)6 09 14 42 25

mathieu.pontecaille@publicisconsultants.com

Source: Legrand

FAQ

What is the purpose of Legrand's buyback program for LGRDY?

Legrand's buyback program aims to enhance shareholder value by repurchasing up to 450,000 shares, which may be allocated to performance share plans or canceled.

When does the buyback program for LGRDY start and end?

The buyback program is set to begin on March 28, 2022, and will end on or before May 10, 2022.

What is the maximum price per share for Legrand's buyback program?

The average price per share for the buyback program will not exceed €120.

How many shares will Legrand buy back under the LGRDY program?

Legrand plans to buy back up to 450,000 shares, representing about 0.17% of its capital.